Bank Of Baku

Turanbank sees 26% rise in profit

Turanbank sees 26% rise in profit
# 14 December 2010 15:10 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. As of December 1, 2010, Azerbaijan-based Turanbank’s assets stood at AZN 125.2 mln, up 20.7% compared with a year ago.

Bank says the loan portfolio rose 31.6% to AZN 99.8 mln, deposit portfolio soared 17% to AZN 40.5 mln. Total capital increased by 10.5% to AZN 22.7 mln, including authorized capital by 8.8% to AZN 18.5 mln.

Note that, income made ANZ 14 mln during the same period, up 28.5% compared to a year ago. Profit soared 25.5% to AZN 3.4 mln.

Owned by 5 legal entities and 20 individuals Turanbank has been in existence since 1992. The bank operates 11 branches across the country.
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